Common use of Incremental Term Loan Clause in Contracts

Incremental Term Loan. Subject to Section 2.02(f), on the effective date of any Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender severally agrees to make its portion of a term loan (each, an “Incremental Term Loan”) in a single advance to the Parent Borrower in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreement; provided, however, that after giving effect to such advances, the Outstanding Amount of each Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan Lenders. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the Parent Borrower may request.

Appears in 2 contracts

Samples: Credit Agreement (Montrose Environmental Group, Inc.), Credit Agreement (Montrose Environmental Group, Inc.)

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Incremental Term Loan. Subject to Section 2.02(f), on the effective date of any the Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender severally agrees to make its portion of a term loan (each, an the “Incremental Term Loan”) in a single advance to the Parent Borrower PRA in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreement; provided, however, that after giving effect to such advances, (i) the Outstanding Amount of each the Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan LendersLenders and (ii) the Total Domestic Revolving Outstandings plus the Multi Currency Revolving Outstandings plus the outstanding amount of the Term Loan plus the outstanding amount of the Incremental Term Loan shall not exceed the Domestic Borrowing Base. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Eurodollar Rate Loans, or a combination thereof, as the Parent Borrower PRA may request.

Appears in 1 contract

Samples: Credit Agreement (Pra Group Inc)

Incremental Term Loan. Subject to Section 2.02(f)2.18, on the effective date of any the definitive documentation for the applicable Incremental Term Loan, each Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender with a commitment with respect thereto severally agrees to make its portion of a term loan (each, an “Incremental Term Loan”) in a single advance to the Parent applicable Borrower in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreementdefinitive documentation therefor; provided, however, that after giving effect to such advances, the Outstanding Amount of each the applicable Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan LendersLenders with respect thereto. Amounts repaid on the any Incremental Term Loan may not be reborrowed. The Each Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the Parent applicable Borrower may request.

Appears in 1 contract

Samples: Credit Agreement (Zep Inc.)

Incremental Term Loan. Subject to Section 2.02(f), on the effective date of any the Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender severally agrees to make its portion of a term loan (each, an the “Incremental Term Loan”) in a single advance to the Parent Borrower in Dollars or an Alternative Currency in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreement; provided, however, that after giving effect to such advances, the Outstanding Amount of each the Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan Lenders. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Rate Loans, or a combination thereof, as the Parent Borrower may request.

Appears in 1 contract

Samples: Credit Agreement (X Rite Inc)

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Incremental Term Loan. Subject to Section 2.02(f), on the effective date of any the Incremental Term Loan Lender Joinder Agreement, each applicable Incremental Term Loan Lender severally agrees to make its portion of a term loan (each, an the “Incremental Term Loan”) in a single advance to the Parent Borrower PRA in Dollars in the amount of its respective Incremental Term Loan Commitment as set forth in the applicable Incremental Term Loan Lender Joinder Agreement; provided, however, that 13598911v3 after giving effect to such advances, (i) the Outstanding Amount of each the Incremental Term Loan shall not exceed the aggregate amount of the Incremental Term Loan Commitments of the applicable Incremental Term Loan LendersLenders and (ii) the Total Domestic Revolving Outstandings plus the outstanding amount of the Term Loan plus the outstanding amount of the Incremental Term Loan shall not exceed the Domestic Borrowing Base. Amounts repaid on the Incremental Term Loan may not be reborrowed. The Incremental Term Loan may consist of Base Rate Loans, Eurocurrency Rate Daily Simple SOFR Loans, Term SOFR Loans, or a combination thereof, as the Parent Borrower PRA may request.

Appears in 1 contract

Samples: Credit Agreement (Pra Group Inc)

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